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Quote of the Day
“All you need for a lifetime of successful investing is a few big winners, and the pluses from those will overwhelm the minuses from the stocks that don’t work out.”
-Peter Lynch.
To learn more about Peter Lynch’s investment style, see our article: A Look Into Peter Lynch’s Investment Style – What Would He Buy Today?
March 29th – This Day in Stock Market History
March 29th, 1999 – The Dow Jones Industrial Average closes above 10,000 for the first time.
Chart from macrotrends
The Dow first crossed the 10,000 mark on March 16th 1999, but would not close above 10,000 until this day in 1999. On March 18th, traders cheered at the close as it looked like the Dow would close above 10,000, but the index would be just shy, closing at 9,997.62.
However once the 10,000 barrier was broken, it was off to the races. The Dow would break the 11,000 barrier just 24 days later, on May 3rd.
Wall Street Journal Coverage of the Dow crossing 10,000
Best March 29th in Dow Jones Industrial Average History
1907 – Up 2.48%, 1.42 points.
Worst March 29th in Dow Jones Industrial Average History
1938 – Down 4.97%, 5.33 points.
Read of the Day
Our quote of the day comes from Peter Lynch, one of history’s most famous investors. His first book, One Up Wall Street is a classic:
<– Go To Previous Day: March 28th: 2013: The S&P 500 finally recovers from the 2008 financial crisis, after nearly 6 years!
Go To Next Day: March 30th: 1999: Priceline IPOs at $16, one of the hottest IPOs at the time. –>
